Carbon Free Alliance launched to facilitate Korea's net-zero goal

Minister of Trade, Industry and Energy Bang Moon-kyu, left, poses with Carbon Free Alliance's inaugural President Lee Hoe-sung as they hold a corporation license approved by the ministry for the alliance, at the Korea Chamber of Commerce and Industry's headquarters in central Seoul, Friday. Courtesy of Ministry of Trade, Industry and Energy

The Carbon Free Alliance has taken off with a mission to collect all available help from countries and companies worldwide to neutralize carbon emissions, according to the Ministry of Trade, Industry and Energy, Friday.

President Yoon Suk Yeol stressed its significance at the 78th U.N. General Assembly in New York last month. The alliance is key to achieving the country's carbon-free energy initiative. The alliance, already joined by Korea's major firms, state-run companies and research agencies, seeks to expand its member pool worldwide.

The alliance was launched at an event held at the headquarters of Korea Chamber of Commerce and Industry (KCCI) in central Seoul, Friday. Its inaugural president is Lee Hoe-sung who chaired the Intergovernmental Panel on Climate Change from 2015 until last July. Prime Minister Han Duck-soo, Trade Minister Bang Moon-kyu and KCCI Executive Vice Chairman Woo Tae-hee joined the event.

Twenty heads of the alliance's member companies, researchers and business groups also joined the event. Private firms included GS Energy, POSCO, Doosan Enerbility, LS Electric, Samsung Electronics, SK Hynix, Hyundai Motor Company and LG Chem; while Korea Electric Power Corp., Korea Hydro and Nuclear Power and Korea Energy Agency were among the state-run firms that are now part of the alliance.

President of the Korea Energy Economics Institute and the head of the Korea Institute for Industrial Economics and Trade also attended the event.

The alliance's immediate agenda is to promote its presence internationally, with a delegation visiting APEC's general assembly next month in San Francisco and the U.N. Climate Change Conference's COP 28 meeting from November to December in Dubai, UAE. Other international seminars and business round tables taking place in the future will also see speakers from the alliance promoting its campaign.

Forming partnerships worldwide with influential business groups pushing the same environmental initiative is another goal for the alliance. Clean Energy Buyers Alliance in the U.S., a business alliance that encourages energy customers and providers to deploy market and policy solutions for a carbon-free energy system, is one of the alliance's targets for cooperation and partnership.

"Carbon neutralization is no longer a simple matter that can be achieved by just choosing a few certain clean energy sources," Lee said during the event. "We need to scramble all measures available from worldwide to push countries, companies and international organizations to contribute to the carbon-free initiative at multiple angles."

Han said the alliance symbolizes Korea's proposal to the world to solve imminent global problems relating to the climate, environment and energy.

"The alliance and the carbon-free energy initiative will also help the Yoon administration achieve one of its key goals ― making Korea a global backbone country," Han said.